Thoroughbred Financial Services LLC Has $236,000 Position in CVS Health Co. (NYSE:CVS)

Thoroughbred Financial Services LLC grew its position in shares of CVS Health Co. (NYSE:CVS) by 31.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,007 shares of the pharmacy operator’s stock after buying an additional 967 shares during the period. Thoroughbred Financial Services LLC’s holdings in CVS Health were worth $236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health during the fourth quarter worth about $32,000. First Community Trust NA increased its holdings in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the period. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $34,000. Steph & Co. boosted its stake in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the period. Finally, ORG Partners LLC grew its position in CVS Health by 11,840.0% during the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 592 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $57.85 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The business’s 50 day simple moving average is $58.31 and its 200 day simple moving average is $62.77. The stock has a market capitalization of $72.62 billion, a PE ratio of 10.17, a PEG ratio of 0.79 and a beta of 0.53.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 earnings per share. As a group, research analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.60%. CVS Health’s dividend payout ratio is currently 46.75%.

Analysts Set New Price Targets

Several brokerages have weighed in on CVS. Evercore ISI dropped their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Barclays cut their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Monday. Finally, Robert W. Baird started coverage on CVS Health in a research note on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $72.10.

CVS Health Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.